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Pension supplement for three million pensioners: New law passed
Find out everything about the new pension law: Traffic light decides on a surcharge for three million pensioners. When does it come into force and how much money will those affected receive?
Pension supplement for three million pensioners: New law passed
On April 25, the German Bundestag passed the new pension law, known as the EM Stock Improvement Payment Act. The law is expected to come into force in July 2024 and will give three million pensioners a supplement to their regular pension. Anyone who received a disability pension between 2001 and 2018 is eligible without having to submit an application. The surcharge is paid out automatically in two phases.
From July 2024, a simplified supplement will be paid out in the first phase, regardless of the regular pension payment and in the middle of each month. The second phase is scheduled to take effect from December 2025, in which the full supplement calculated by the DRV will be paid out together with the current pension. According to the new law, the amount of the surcharges is 7.5 percent for pensions that started between January 2001 and June 2014 and 4.5 percent for pensions that started between July 2014 and December 2018.
For the three million pensioners affected, this means a noticeable increase in their pension payments. However, it is important to mention that, according to the DRV, there is no provision for retroactive offsetting of the simplified surcharge against the amount paid out later. This is to ensure that everyone who is entitled to benefits receives what they are entitled to.